The trade agreement or the trade policy that has a wide range of tariffs and the taxes and is said to be a treaty that often includes the investment made among two or more countries. The most commonly found are the FTA that tends to reduce the quotas, taxes, and other restrictions.
These trade pacts have frequent political contingents since they may change economic customs and depends on independence relations with partners.
The WTO raises concerns regarding this regional trading agreement as they may increase costs and even be unfair in trade relations.
In a globalized world to practice fair and safe trade is a matter of concern due to the political restriction imposed by the other nations. As the so-called Most Favoured Nation status and the system of preference should apply equally.
